Real estate is surrounded by many income tax provisions. Starting from buying of property, keeping and maintaining the same and continues till selling it out. Understanding of taxation on real estate transaction is very important so one can do the necessary tax planning and save the maximum possible capital gains tax on the sale of property. Taxation aspects related to buying of real estate on loan has been covered in my earlier article on Housing loans. One should also know that keeping second property (if any) idle may attract wealth tax and to avoid wealth tax one must let out the property and come under tax provision of “Income from house property”. There’s nothing called tax free in real estate

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The word superannuation is normally used as a synonym to Retirement. Superannuation benefit is a Retirement benefit provided by the employer to their employees. In simple terms Superannuation benefit is the pension plan bought by the employer for its employees. Employer contributes a certain amount to a Group Superannuation policy bought for this purpose and at the time of Retirement, the employee starts getting pension depending on the plan variant which employer has opted for at the time of contribution, and also the option that employee may have to exercise at the time of Retirement. Superannuation benefit comes in 2 variants, where the employer decides as to what it wants employees to receive a pension as. It may be a defined benefit plan or a defined contribution plan.

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